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Cresco's $2B planned merger with Columbia Care called off

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Cresco and Columbia Care call off $2 billion cannabis megamerger; Sean ‘Diddy’ Combs deal also scratched

Cresco Labs' flagship Sunnyside recreational marijuana store, a block south of Wrigley Field, is pictured during its grand opening Monday, Nov. 15, 2021.

Meanwhile, the cannabis credit market has gotten significantly tighter in the wake of rising interest rates and regional bank collapses. New York-based Columbia Care, which started as a medical-only operator 11 years ago, has grown into one of the largest multistate cannabis companies in the U.S. with 94 dispensaries and 32 cultivation facilities in 16 markets.

 

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Cresco Labs, Columbia Care scrap merger announced in March, 2022Cresco Labs stock was down 1.6% in premarket trading Monday after the cannabis company said it mutually agreed to terminate its merger agreement with...
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Cannabis firms Cresco, Columbia Care to terminate $2 bln mergerCannabis producers Cresco Labs and Columbia Care Inc have mutually terminated their $2 billion merger announced in March last year, the companies said on Monday.
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